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Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes

In this excerpt from his upcoming book "House of Cards: A Tale of Hubris and Wretched Excess on Wall Street," William Cohan, looks back to the spring of 2007 when bear stearns traders Ray Cioffi and Matthew Tannin lost roughly $1.6 billion while allegedly misleading investors.

Lewis lost about $1.16 billion of his investment when on March 16, 2008 Bear Stearns was purchased in a straight stock swap with JP Morgan Chase in which JP Morgan paid the equivalent of $2.00 a share for Bear Stearns.

The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and.

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Protestors walk out of the lobby of the Bear Stearns headquarters March 26, 2008 in New York.. losses from a pair of its hedge funds that had bet heavily on subprime loans. But those questions.

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Bear stearns collapse costly to Many : NPR – Bear Stearns Collapse Costly to Many.. deep the financial industry’s woes go – and what other banks might be at risk.. in New York is valued at $1 billion by itself. Why did Bear Stearns.

New York – Two Bear Stearns executives who ran hedge funds that collapsed after betting heavily on the shaky subprime mortgage market were. an alleged scheme that cost 300 investors about $1.6.

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WASHINGTON – Mortgage giant Freddie Mac reported net income of $4.2 billion for the. $1.4 billion it earned in the same period of 2014. Rising interest rates during the period enabled the company. Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes Ten Years Later: What Did the

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Bear Stearns, bitten badly by the housing crash, is short more than $1 billion on subprime mortgage securities — a big bet by the investment bank that the woes that have driven a historic.